This is no doubt a real live Sim...I think this Sim has the potential to have the potential to do both and be a top notch Sim and Hi end gaming fun loving time.
AS for the wheel statement, you have to tune the wheel or else you may and probably will have issues(this is because its a Sim) ...I really dig this on my MoMo wheel on my rig.

"Precisely one year ago, Slightly Mad Studios launched World of Mass Development and the first game that would make use of the innovative new crowd funding portal – Project CARS.

During the past 12 months, more than 80.000 members have joined WMD, helping Project CARS to become the quickest-developing racing title on the market.

When WMD launched on October 11th 2011, members got access to a very early development build of the title, featuring a handful of cars and tracks and a basic racing mode.

Since day one, five new development builds have been made available to our members each week, bringing the total number of builds released to 321.

The new builds have added exciting new features each week as since then, Project CARS has been equipped with a fully dynamic time of day & weather engine, extensive multiplayer support, a brand new force feedback & tire physics model among lots of other improvements

The title’s content has been expanded broadly as well as over 26 cars and 36 tracks are already available in Project CARS. Several high-profile car manufacturers have joined the game as Project CARS will feature vehicles from manufacturers such as BMW, Ford, Briggs Automotive Company, Classic Team Lotus, Gumpert & Ginetta among others.

The key philosophy behind WMD is to involve all members deeply in the development of the title and our member base has proven to be the backbone of the project. Our members have so far pitched in more than 1.6 million Euro of funding, allowing Project CARS to be developed independently without a publisher.

Aside from providing funding, daily testing of builds and providing an endless stream of bug reports, our members have contributed to the project in a variety of ways.

From creating more than 50,000 stunning screenshots and uploading more than 7000 Project CARS videos to Youtube and hundreds of user-created car liveries, each WMD member has found a way to contribute to the game.

Members have also helped to collects thousands of reference photos and other data, assisting our developers in making Project CARS the most realistic racing title on the market.

Thanks to the initiative of some of our members, Project CARS will feature content that has never been available in any other title before, including the Formula Gulf series and the legendary Solitude race track.

To celebrate the first anniversary of Project cars and to show off the amazing creativity of the WMD community, JonZ has made the stunning video trailer you can enjoy above."